The best games
Pressure continues to mount on Activision Blizzard to institute major change in the wake of revelations about its toxic work culture. / Photo courtesy of Activision Blizzard
–
–
Treasurers from six states have called for action at Activision Blizzard amid turmoil at the company caused by a culture of gender discrimination and sexual harassment.
Officials from California, Massachusetts, Illinois, Oregon, Delaware, and Nevada sent a letter to Activision Blizzard’s board of directors on November 23 requesting a meeting to discuss the “company’s response to the investment risk exposures and challenges facing Activision. ”According to Axios. report.
The state treasurers of California, Massachusetts, Illinois, Oregon, Delaware and Nevada are calling on Activision Blizzard to take further action in the event of misconduct.
Through their states’ investments in the company, they threaten to vote to remove the board members https://t.co/E78sJ3sPmh
– Esteban Totilo (@stephentotilo) December 1, 2021
The letter also says that the treasurers would “weigh” a “call to vote against the re-election of the incumbent directors.”
State treasuries manage public investments in the stock market, including the allocation of pension funds. Those cans of funds represent significant investments in companies like Activision Blizzard, giving these treasurers crucial leverage to push for change at the company.
The letter adds fuel to the fires raging at Activision Blizzard, where explosive investigations have uncovered years of misconduct as well as cover-up attempts by executive leaders, including embattled CEO Bobby Kotick. Employees and investment groups have called for Kotick’s resignation, and industry leaders have expressed disappointment at their company’s handling of the scandal.
“We believe that radical changes are needed at the company,” Illinois State Treasurer Michael Frerichs told Axios in an interview.
“We are concerned that the current CEO and the directors of the board do not have the skills and conviction to institute these radical changes necessary to transform their culture, to restore trust with employees, shareholders and partners.”
The treasurers requested that a meeting be held by December 20.
–
